16 Sep 2020
I have 2 DBS account. One POSB esavings and one DBS Multiplier. My salary is currently credited into my POSB esavings and I usually spend from my POSB esavings. Do I fulfil the salary credit requirement to earn higher interest rate in the DBS Multiplier?
Also, would like to ask, if I set up an invest saver with my POSB esavings, does it also count towards higher interest rate in the DBS Multiplier?
Hope to clarify here. Thank you!
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Yes, so long as your salary transaction code is ‘SAL’ or ‘PAY’, it will be eligible for the higher interest rate regardless of account. However, the interest earned is calculated based on the multiplier balance. So make sure the bulk of your cash is kept there!
Also yes to your second question. So long as its a new set up (i.e you set up the invest saver after opening the multiplier account). Do note that this investment criteria is only valid for 12-months.
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DBS/POSB Multiplier Account
Up to 4.10% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
Standard Chartered JumpStart Account
OCBC FRANK Account